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Sep 11, 2012
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to the united states but truly extraordinary considering where we are today after taking that kind of hit. america the great, america the resilient. >>> breaking news. facebook ceo mark zuckerberg set to deliver his first public comments since the ipo. we will bring you those comments as soon as they begin. you see the stage there awaiting for participants to walk out. let's turn to our traders here. what does zuckerberg need to say tonight to restore confidence in a stock that is down 15%. >> we can monetize mobile. i don't know that is what he will say. i don't expect that at all. i think he shouldn't focus on the stock price. that is beyond his control. he shouldn't have investors focus on it much the same way that he doesn't focus on his stock price. >> the problem is it looks like he is not delivering on fundamentals either. you are the only one here on the desk who can make a case for owning facebook. >> i do own it through the weekly calls. i think what he needs to do is go back to where this company was six months ago. i don't know if that's possible. if he can i think the sto
to the united states but truly extraordinary considering where we are today after taking that kind of hit. america the great, america the resilient. >>> breaking news. facebook ceo mark zuckerberg set to deliver his first public comments since the ipo. we will bring you those comments as soon as they begin. you see the stage there awaiting for participants to walk out. let's turn to our traders here. what does zuckerberg need to say tonight to restore confidence in a stock that is down...
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Sep 4, 2012
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china, europe, and the united states. look, we know that china used to be one of the world's great growth engines. it almost single handedly kept the global economy afloat during the global recession. but after playing the roe of the world's economic engine for so long, the chinese locomotive seems to be in danger of running off the rails. each piece of data is weaker than the last. so what's good about that? well, the slowdown in china seems somewhat self-inflicted. governments hit the brakes and in many ways still seems like it's happening. the hope is the chinese will start cutting rates, adding real octane to the down shift in their economy. how about europe? the european central bank meeting this week and we're expecting to hear some chatter in unison that's going to ereverse the declining economies over there and maybe unite to save the spanish banking system. you can monitor these efforts by watching the largest spanish bank which has been climbing ever since it bottomed at $4 and change. $7 stock finishing up 0.18
china, europe, and the united states. look, we know that china used to be one of the world's great growth engines. it almost single handedly kept the global economy afloat during the global recession. but after playing the roe of the world's economic engine for so long, the chinese locomotive seems to be in danger of running off the rails. each piece of data is weaker than the last. so what's good about that? well, the slowdown in china seems somewhat self-inflicted. governments hit the brakes...
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Sep 24, 2012
09/12
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a lot of factory jobs are like that in the united states. that's the nature of a factory. >> one final question, if i might. how long does your intelligence indicate that this plant may be offline? >> that's the critical question. they were saying it could be up as soon as tomorrow. i actually think we've not heard the end of this news. i think we'll see more bad news regarding nurse which could theoretically keep this factory closed for up to a week or maybe more if we end up seeing deaths. >> gentlemen, thank you very much. appreciate you being with us. >> ty, as you know, another big apple story today, the company selling more of its 5 million iphone 5s in the first three days after that product was launched. a note from jpmorgan says, by the way, that that does not include pre-orders, and then there's yahoo!. the shares of yahoo! today are on the upside by more than 5% in a month as the new ceo, marisa mayer, gets set to address the troops tomorrow. jon fortt is helping us get ahead of this particular story. >> tomorrow's meeting is only
a lot of factory jobs are like that in the united states. that's the nature of a factory. >> one final question, if i might. how long does your intelligence indicate that this plant may be offline? >> that's the critical question. they were saying it could be up as soon as tomorrow. i actually think we've not heard the end of this news. i think we'll see more bad news regarding nurse which could theoretically keep this factory closed for up to a week or maybe more if we end up...
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Sep 12, 2012
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i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> coming up on street signs at the top of the hour, sully is live at the apple event, he's going to be co-hosting from there. we'll check back with him and find out what's happening. we'll also find out if apple has any other big guns in the pipeline. >>> plus, new unrest in the middle east and with 55 days until the election, is this going to be a new catalyst for $100 oil? >>> and higher gas prices. lots of questions, hopefully we'll get some answers on the show. >> thank you, very much. >>> the finance yahoo.com poll this morning is as apple unveils a new lineup today, will you make an apple investment decision based on the release of the information that we are bringing you? the vast majority of you say no. it's still good fun though, don't you think? let
i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> coming up on street signs at the top of the hour, sully is live at the apple event, he's going to be co-hosting from there. we'll check back with him...
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Sep 18, 2012
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states, right? >> i think that's a very good thing, yeah. >> very healthy conversation. some, even though they're calling these comments a disaster for the romney campaign, others are not. donald trump, for one. he's what he told the gang on "squawk box." this morning. >> these statements that were very unfortunate, i guess. i don't think he should apologize. he's probably right. he probably won't get any of those votes, but he should not be apologizing. >> so is donald trump right? should romney just stand behind though comments? joining us to break it down is director of the tax policy center and our own rick santelli. rick, you agree with trump? >> i'm not going to agree or disagree with trump. my opinion is he stated basic facts, not an elegant fashion. sometimes the facts aren't easy to swallow. the issue here isn't about that sound bite. the issue here is about the media. we have a $16 trillion debt. we have a jobs program, or many jobs programs that haven't worked. we have a federal reserve w
states, right? >> i think that's a very good thing, yeah. >> very healthy conversation. some, even though they're calling these comments a disaster for the romney campaign, others are not. donald trump, for one. he's what he told the gang on "squawk box." this morning. >> these statements that were very unfortunate, i guess. i don't think he should apologize. he's probably right. he probably won't get any of those votes, but he should not be apologizing. >> so...
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Sep 12, 2012
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this attack will not break the bonds between the united states and libya. libyan security personnel fought back against the attackers alongside american. libyans helped some of our dips find safety and carried ambassador's body to the hospital where we tragically learned he had died. it's especially tragic that chris stevens died in benghazi because it is a city he helped to save. at the height of the libyan revolution. chris led our diplomatic post in benghazi with courage and resolve, he built partnerships with libyan revolutionaries and helped them as they planned to build a new libya. when the gadhafi regime came to an end, chris was there to serve as ambassador to the new libyan. he worked tirelessly to support this young democracy. i think both secretary and dlin ton a clinton and i relied deeply on his knowledge of the situation on the ground there. he was a role model to all who worked with him. and to the young diplomats who aspire to walk in his foot steps. along with his colleagues, chris died in a country that is still striving to emerge from th
this attack will not break the bonds between the united states and libya. libyan security personnel fought back against the attackers alongside american. libyans helped some of our dips find safety and carried ambassador's body to the hospital where we tragically learned he had died. it's especially tragic that chris stevens died in benghazi because it is a city he helped to save. at the height of the libyan revolution. chris led our diplomatic post in benghazi with courage and resolve, he...
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Sep 4, 2012
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we talked about over a year, we're seeing signs as they slow, capital is coming to the united states, especially in real estate. >>> the three bear cases for stocks, the same one, europe-china slowdown, also the bear case because we don't know how the movie is going to end. if you listen to the rabinni's of the world, we're all doomed. average company growth is slowing so the market may not command as high of a multiple and yield, fiscal cliff and we will pull a thelma and louise unless congress gets their act in gear. >> you just heard from brian the bull case and the bear case. let's see what our guests think. james camp, manager and bob. thank you very much for joining us. bob, i will start with you. you have to pick one, bear or bull for september. can't be raccoon or koala or wallaby. >> you will see a market impacted because of concerns out there. i mentioned, you still have europe, you still have china, you still have the fiscal cliff, the election, which will be very contentious. you take a look at what's actually going on, you actually have plan in europe and that will materi
we talked about over a year, we're seeing signs as they slow, capital is coming to the united states, especially in real estate. >>> the three bear cases for stocks, the same one, europe-china slowdown, also the bear case because we don't know how the movie is going to end. if you listen to the rabinni's of the world, we're all doomed. average company growth is slowing so the market may not command as high of a multiple and yield, fiscal cliff and we will pull a thelma and louise...
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Sep 17, 2012
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that's a big problem. >> what's unique about the united states is the united states has done better over the past 30 years than countries which have decided to keep tax rates high and keep their industries regulated. by lowering marginal tax rates, by deregulating has given the u.s. a huge advantage over countries that haven't. >> the times we did best of all is when bill clinton was president. i think we ought to have the same tax rates we had when bill clinton was president. >> can we get spending down to 18% of gdp like bill clinton? does that come with that? >> i'd be happy to do that as long as we could raise taxes to the way -- >> the president would not. >> last word. >> the fact of the matter is that all this talk about tax cuts is nonsense. it advantages a particular group of people who are already at an advantage. >> that's class warfare. >> it's fitting we end on an equality note given what's happening outside the doors of this exchange. >> be careful. >> governor, j.p., thank you guys. see you next time. >>> when we come back, banks getting a boost from qe-3 but pulling back
that's a big problem. >> what's unique about the united states is the united states has done better over the past 30 years than countries which have decided to keep tax rates high and keep their industries regulated. by lowering marginal tax rates, by deregulating has given the u.s. a huge advantage over countries that haven't. >> the times we did best of all is when bill clinton was president. i think we ought to have the same tax rates we had when bill clinton was president....
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Sep 11, 2012
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>> i support the president of the united states. whoever that may be. >> bob, good to have you on the program. obviously investors had a great day today. aig trades up, 3345 is where it closed. we'll be watching the developments. thanks for your time today. >> thank you, maria. >> always good to see you. >> happy birthday. >> thank you so much, bob. >>> gridlock on the fiscal cliff. eric cantor pointing the blame at president obama's doorstep just an hour ago. >> frankly, the president's been unwilling to meet us to sit down and try an iron out the differences. >> now we get the other side. steny hoyer is we me, the second most powerful dem in congress. he'll join me after this break. you won't want to miss it. stay with us on that. later, with facebook's stock slumping to half the original ipo price s it time for mark zuckerberg to hands over the reigns to a more seasoned executive? then we'll take you live to an event he's speaking at. you're watching "closing bell" on cnbc, first in business worldwide. oh, hey alex. just picking
>> i support the president of the united states. whoever that may be. >> bob, good to have you on the program. obviously investors had a great day today. aig trades up, 3345 is where it closed. we'll be watching the developments. thanks for your time today. >> thank you, maria. >> always good to see you. >> happy birthday. >> thank you so much, bob. >>> gridlock on the fiscal cliff. eric cantor pointing the blame at president obama's doorstep just an...
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Sep 27, 2012
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. >> what about the balance that we're facing here in the united states? we've got similar issues, don't we? we have an e more nor we? we have an e more nomous debt l and the debate on what to cut. >> there's always a question of priorities and where you focus your attention. i think the president has made a major effort to reduce the budget deficit and also to invest in the future of the country, just like a corporation in many senses that has too much debt, that it has to put its debt in line with its ability to raise revenues. it also has to invest in its future. the president, i think, is investing in education, infrastructure, many things that will make the country stronger. that's really the goal. it's to have a sound budget policy but also invest in the country's future. i think that's what the president's trying to do. >> but bob, we haven't had a budget in three years. >> well, a lot of programs that he's proposed have not gotten through the congress. that's a big challenge. he's focused on education. he has a very significant proposal on infrastr
. >> what about the balance that we're facing here in the united states? we've got similar issues, don't we? we have an e more nor we? we have an e more nomous debt l and the debate on what to cut. >> there's always a question of priorities and where you focus your attention. i think the president has made a major effort to reduce the budget deficit and also to invest in the future of the country, just like a corporation in many senses that has too much debt, that it has to put its...
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Sep 19, 2012
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states. >> understanding you have a lot of bearish news headlines coming forth but what drives the tape is the positioning of the investment community. where is the investment community? we have established long positions in oil as reported from the cfdc as the highest level in multiple months. i point out crude is just in the mindset where if everyone is all in long the slightest bit of bearish news will take it the other way. many are going to say that crude is going to deteriorate into the mid to lower 80s. i take the other side of that. >> let's bring in the founding partner of again capital. he joins us with his take on crude's plunge. you are in the camp that believes we have seen the peaks at least for now. >> you have covered it well. i would say that in highlight just a few minutes ago norfolk southern came out with earnings very disappointing. they highlighted the shipments they are doing as flagging. that goes to the thesis that is going on here that all the qe in the world can benefit gold and silver as monetary pure plays but crude oil has to hue to the fundamentals that ha
states. >> understanding you have a lot of bearish news headlines coming forth but what drives the tape is the positioning of the investment community. where is the investment community? we have established long positions in oil as reported from the cfdc as the highest level in multiple months. i point out crude is just in the mindset where if everyone is all in long the slightest bit of bearish news will take it the other way. many are going to say that crude is going to deteriorate into...
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Sep 4, 2012
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>> the united states. the united states was hemorrhaging 700,000 jobs a month or 700,000 jobs a month under george bush. right now, we're creating jobs. we've created 3 million or 4 million jobs in the worst recession with an obstructionist congress working against the president. >> so you think that unions then are better off today than they were three years ago? >> i think america is better off. >> are the unions better off? are the unions better off? >> unions and america are better off. we're not hemorrhaging jobs. we're creating jobs. we have a guy that enforces health and safety laws. he wants to reinstill the buy in america labor. he's pushing for insource, not outsourcing. we have a president right now who is saying, let's bring jobs back to america and increase manufacturing. >> it's interesting because i am hearing a lot of that and yet we're just not seeing it in the numbers. an unemployment rate at 8.3% and most economists you speak to will tell you we should be a lot farther off in this moment
>> the united states. the united states was hemorrhaging 700,000 jobs a month or 700,000 jobs a month under george bush. right now, we're creating jobs. we've created 3 million or 4 million jobs in the worst recession with an obstructionist congress working against the president. >> so you think that unions then are better off today than they were three years ago? >> i think america is better off. >> are the unions better off? are the unions better off? >> unions...
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Sep 28, 2012
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. >> the inflation in the united states is clearly in the bottle, but it could just as easily get out of the bottle. is that your thesis for 2013? >> inflation is one of the risks of the thesis. the banks are being accommodating. one thing to remember the key factor would be velocity of money. it only goes up if lending increases and so an early beneficiary of that would be citigroup so you can think about that in the early days of that process as being a partial hedge. >> if rates go up for the wrong reasons, it could completely -- everything could get ratcheted down. isn't that true? >> i think we're quite a ways away from that risk playing out. we haven't seen much evidence of inflation so far. so we think that before you get anywhere close to that point, there will be opportunities for the fed to retreat from their strategy. but the other thing i want to touch on is what if rates go up? that's a positive for the net interest margins for citigroup. >> i want to interrupt quickly. just saw a flash that 49 billion is the need for capital for the nationalized banks in spain. that may
. >> the inflation in the united states is clearly in the bottle, but it could just as easily get out of the bottle. is that your thesis for 2013? >> inflation is one of the risks of the thesis. the banks are being accommodating. one thing to remember the key factor would be velocity of money. it only goes up if lending increases and so an early beneficiary of that would be citigroup so you can think about that in the early days of that process as being a partial hedge. >> if...
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Sep 5, 2012
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to see good retail in the united states. i see good housing in the united states. how many times did phil lebeau come on and say every single auto maker 14.5 million autos? i mean that's booming. union pacific, things are great. so you just get a picture that says, wait. need to go back to the u.s. again. >> three months of contracting isms. that's a problem. deutsche bank is out this morning saying if you correlate ism to the s&p you would either need a 10% correction in the market or ism back to 54 to justify the current level. >> well, if it's either/or -- the former certainly makes more sense. >> we keep it going. we're reflecting china and europe in the lack of growth in our economy or are they really going to bring us down? >> they reflected china in the chinese stock market which is really hideous. you want to see a real bear market, by the way, versus these european markets. we can say all the negative things you want but you made more money in germany this year so far than in the united states. something isn't it? >
to see good retail in the united states. i see good housing in the united states. how many times did phil lebeau come on and say every single auto maker 14.5 million autos? i mean that's booming. union pacific, things are great. so you just get a picture that says, wait. need to go back to the u.s. again. >> three months of contracting isms. that's a problem. deutsche bank is out this morning saying if you correlate ism to the s&p you would either need a 10% correction in the market...
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Sep 25, 2012
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>> i spent 20 years opening charter schools in the united states and remain very involved in the education reform movement. reform can come from many places. one of the great advantages of private education is you have complete freedom from most regulations, from most union situations to really innovate. i like to say, there are no patents in education. the things we do will travel to schools all over the world. >> it is for profit, we should make that point. how much money can you make in this business? >> we raised $75 million of equity, which we invested in our new york campus. as we go forward, we'll be raising other equity worldwide. in order to do that, we have to produce returns that are attractive to the private equity backers that we are supported by. >> and i would imagine given what manhattan incomes are like, you have pricing power, as we like to say in business news. >> we're priced literally where the other schools in the school are priced. that's a similar strategy that we'll use worldwide. we basically took the average of the top 15 schools and priced it at that point. >> w
>> i spent 20 years opening charter schools in the united states and remain very involved in the education reform movement. reform can come from many places. one of the great advantages of private education is you have complete freedom from most regulations, from most union situations to really innovate. i like to say, there are no patents in education. the things we do will travel to schools all over the world. >> it is for profit, we should make that point. how much money can you...
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Sep 13, 2012
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how about is the hurdle in the united states particularly from the second tier defense contractors? >> it's substantial, ross. and good more than ning to you kelly. i think what we'll see in the u.s., we call them second tier, but they're huge in their own right. lockheed martin, northrop grumman, general dynamics, those companies will feel immense pressure to merge or at least look at combinations in order to have the size to compete with a combination of aeds/bae and boeing. $90 million worth of revenue last year. boeing still is technically the largest at $67 billion in revenue. and as you mentioned, the approval here in the u.s. is going to be key because really this deal is all about greater access to the u.s. defense market. despite all the objections, when you look at the plants and the production facilities that both bae and aeds now have, or are under construction, i think they'll have enough clout to ultimately get the deal to go through. >> phil, there's certainly a lot of focus on whether this is an effort to kind of get aeds operating more -- thought of more as an indep
how about is the hurdle in the united states particularly from the second tier defense contractors? >> it's substantial, ross. and good more than ning to you kelly. i think what we'll see in the u.s., we call them second tier, but they're huge in their own right. lockheed martin, northrop grumman, general dynamics, those companies will feel immense pressure to merge or at least look at combinations in order to have the size to compete with a combination of aeds/bae and boeing. $90 million...
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Sep 11, 2012
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when it comes to the united states, the list is long. in front of an election i saw some young people a couple days ago and a question was put forth how do you define freedom? the young kids i think they were first or second grade had the same answer. the right to pick and choose how you want to live. but whether it's the light bulbs, whether it's the kind of cars you drive, whether it's which companies make it or not, which companies go through traditional bankruptcies, spent a lot of talk about gm and chrysler. i don't know how far ford would get down the road making a car that sold for $49,000. yes, i'm talking about the volt. that big story yesterday. i'm not saying whether that number is right or not. it gets the point across. the biggest issue of all is when the government takes over things like sally may and fannie and freddie, they limit your choices. they have government girth behind whether can you live in your house and how much it costs if you can't afford it. republican, freed so many about choice. your choice. back to you.
when it comes to the united states, the list is long. in front of an election i saw some young people a couple days ago and a question was put forth how do you define freedom? the young kids i think they were first or second grade had the same answer. the right to pick and choose how you want to live. but whether it's the light bulbs, whether it's the kind of cars you drive, whether it's which companies make it or not, which companies go through traditional bankruptcies, spent a lot of talk...
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Sep 12, 2012
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both by the libyan authorities an by the united states government. if there's a large crackdown in the country on potential trouble makers, then that could backfire and we could see this evolve into further violence. but if that doesn't happen, then i don't foresee an impact on oil. >> thank you very much for joining us today. >>> u.s. energy policy is a major issue in the presidential race. with both campaigns painting wildly different pictures of the situation. our senior correspondent scott cohn is here to try to separate the fact from fiction in our weekly fact checking report. what have you found? >> well, guess what? there's spin on both sides. let's start with the president last week in charlotte. >> in the last year alone, we cut oil imports by 1 million barrels a day. more than any administration in recent history. and today the united states of america is less dependent on foreign oil than at any time in the last two decades. >> well, it is true that the u.s. now imports only 45% of its petroleum, the lowest since the '90s, according to the
both by the libyan authorities an by the united states government. if there's a large crackdown in the country on potential trouble makers, then that could backfire and we could see this evolve into further violence. but if that doesn't happen, then i don't foresee an impact on oil. >> thank you very much for joining us today. >>> u.s. energy policy is a major issue in the presidential race. with both campaigns painting wildly different pictures of the situation. our senior...
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Sep 27, 2012
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david foon is part of the fastest growing jewish newspaper in the united states. gentlemen, how big of a factor is this tension between iran and israel factored into the price of oil? >> there's no question that today's run-up, marimaria, was direct reaction. we got a leak of some of the speech earlier before the market opened that, in fact, prime minister netanyahu was going to state what this red line was going to be all about. now we know. of course, it comes on the heels of ahmadinejad's speech yesterday. this got right back in the forefront of the traders and the markets' mind here. what it represents, of course, for oil is, you know, the mother of all supply risks here. the strait of hormuz comes into play. the whole region comes into play. obviously, it's almost a mild reaction given what we got here today. we're clearly on a path to something, some confully grags. i do say given that netanyahu says they won't get to that final stage until next summer, we have some time. >> david, what did you think of the red line speech? netanyahu has pressed for this bef
david foon is part of the fastest growing jewish newspaper in the united states. gentlemen, how big of a factor is this tension between iran and israel factored into the price of oil? >> there's no question that today's run-up, marimaria, was direct reaction. we got a leak of some of the speech earlier before the market opened that, in fact, prime minister netanyahu was going to state what this red line was going to be all about. now we know. of course, it comes on the heels of...
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Sep 5, 2012
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the united states showing the big slope up. government programs he says for example extended unemployment insurance could have kept the rate high. nonsense says jeff lacker from the richmond fed, jim bull from st. louis and others. there he say he didn't look deep enough into the data. we have a high, long-term unemployment problem. that is a sign of structural. then they say this very interesting question, a little bit into the economics here. where the deflation? if there is all of this extra slack in the economy, prices should be falling. in fact, you have this large bump up in unemployment and then you look at the year over year end of inflation and there is no deflation there. the big question, guys, where does the number come back to? what is the right number? should the fed be aiming for a 5%, 6%, or 7% unemployment rate which means there's a lot less slack in the economy right now. that's the debate, scott. that's what the fed is puzzling over. how much it can do. how much progress it can have on unemployment. bernanke
the united states showing the big slope up. government programs he says for example extended unemployment insurance could have kept the rate high. nonsense says jeff lacker from the richmond fed, jim bull from st. louis and others. there he say he didn't look deep enough into the data. we have a high, long-term unemployment problem. that is a sign of structural. then they say this very interesting question, a little bit into the economics here. where the deflation? if there is all of this extra...
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Sep 21, 2012
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i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! >>> cnbc was able t
i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a...
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Sep 12, 2012
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i mean, the math is done a little bit differently in the united states, you having done a ph.d. at harvard. they are taking care of the problem, aren't they? they are in the process? >> well, they are talking about it. i don't think they are doing any meaningful things, because in the u.s. political system, you really have to have the president, the white house, and the congress working together. and currently, the two parties are not even talking the same language oftentimes. so i do hope whatever the outcome of the presidential election in the u.s., the two parties, the administration and the parliament, the congress should work together. >> yeah, their philosophies are farther apart than ever. it's two different americas. what are you saying then? you're saying with the prospect of still a possible qe3, that a serious debasement of the dollar devaluation -- almost like a deliberate devaluation of the dollar is going to enter the conversation here? is that what you're alluding to? >> no. what i'm saying is the u.s. financial crisis is a monumental, historical event. the conseq
i mean, the math is done a little bit differently in the united states, you having done a ph.d. at harvard. they are taking care of the problem, aren't they? they are in the process? >> well, they are talking about it. i don't think they are doing any meaningful things, because in the u.s. political system, you really have to have the president, the white house, and the congress working together. and currently, the two parties are not even talking the same language oftentimes. so i do...
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Sep 10, 2012
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. >>> the drenching that parts of the united states got last week, including tornadoes out in queens, not really helping parched farmland. there are no farms in queens, are there? this afternoon we're going to get exclusive details on the economic impact from our senior economics reporter steve leisman. he's here live. >> in about three minutes we're going to get an e-mail from the guy that runs the farm in queens. it is a big impact from what's a small sector of the economy and it could even have an impact on the presidential election. in a detailed study of the summer's drought which scored soybeans, corn and other crops across the nation, macro economic advisors out of st. louis estimate it could shave as much as a half point off gross domestic product this year. that's a big hit to a $13 trillion economy from a total farm sector that accounts for just -- wait for it now -- 1% of the nation's output. ben herzon is the economist who did the study. pe explai he explains the drought's outside impact. >> even though it only accounts for 1% of the economy, big changes in farm output can
. >>> the drenching that parts of the united states got last week, including tornadoes out in queens, not really helping parched farmland. there are no farms in queens, are there? this afternoon we're going to get exclusive details on the economic impact from our senior economics reporter steve leisman. he's here live. >> in about three minutes we're going to get an e-mail from the guy that runs the farm in queens. it is a big impact from what's a small sector of the economy and...
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Sep 20, 2012
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then there is the united states. here we have the fiscal cliff. the fiscal cliff is something we have moderate control over because it's a question of political will. it can be resolved. anything that can be resolved will be dealt with in some fashion. and i think that's why the stock market has been climbing despite the obvious chasm ahead of us. sure, there are other reasons that could cause the selloff stocks. stocks have had a big run. valuations getting stretched if we have little growth ahead of us. twice in the last month federal express, man, they disappointed. twice, twice. it's been a real tale of woe. [ crying ] and what has happened? frankly, nothing. stock's pretty much unchanged. tonight we got a big disappointment from norfolk southern, the railroad. while the stock is being hit after hours, you know what? i bet you buyers come in and snap it up tomorrow at what will be considered real bargain prices a few weeks from now. that's because in this tape, in this market, disappointing earnings don't necessarily produce dramatic and lasti
then there is the united states. here we have the fiscal cliff. the fiscal cliff is something we have moderate control over because it's a question of political will. it can be resolved. anything that can be resolved will be dealt with in some fashion. and i think that's why the stock market has been climbing despite the obvious chasm ahead of us. sure, there are other reasons that could cause the selloff stocks. stocks have had a big run. valuations getting stretched if we have little growth...
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Sep 26, 2012
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that's the big wave here in the united states, at least. the chip will be supplied later on this year or in early 2013. but 4g is happening right now. and that's the issue. >> it will be 5g by the time they get there. >> probably. >> if you want to play that new chip architecture, arm hold sgs probably the way to play it. that chart looks fantastic. that's where i would put my money. >> mike, you saw some interesting things today. >> the options market sharing the same skepticism we saw almost 12,000 puts trading this thing at about 46 cents. this is somebody who believes the stock could be town around the 19.5 level. seeing bearish sentiment. >> koch more "options action" on friday afternoon. >>> a mining stock continues to dig up golden opportunities. we'll give you the big movers of today's session. that's next. >>> and a shiny trade of the day. we'll lift the curtain and reveal what it is later on. [ male announcer ] trading's like a high-speed train. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-so
that's the big wave here in the united states, at least. the chip will be supplied later on this year or in early 2013. but 4g is happening right now. and that's the issue. >> it will be 5g by the time they get there. >> probably. >> if you want to play that new chip architecture, arm hold sgs probably the way to play it. that chart looks fantastic. that's where i would put my money. >> mike, you saw some interesting things today. >> the options market sharing the...
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Sep 7, 2012
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and that is why i'm running for a second term as president of the united states. >> how the campaign will sell a job creation plan now and appeal to swing voters. the second hour of "squawk box" starts right now. ♪ well i won't back down no i won't back down ♪ ♪ you can stand me up at the gates of hell but i won't back down ♪ >> good morning everybody and welcome back to "squawk box" on cnbc. i'm becky quick with andrew ross sorkin and joe kernan. we've been watching the futures, a big day ahead of the jobs report. the futures are indicated higher the dow futures up by 29 points, s&p futures slightly higher as well. everything is resting on what we hear just 90 minutes from now when we get the government's august jobs report. consensus forecast calling for 125,000 new nonfarm payroll jobs. the unemployment rate is expected to remain steady at 8.3% after what we heard from abc yesterday there are some people who are expecting a slightly higher number than even the 125. shares of pandora could take a hit today. "the wall street journal" reports that apple is considering its own
and that is why i'm running for a second term as president of the united states. >> how the campaign will sell a job creation plan now and appeal to swing voters. the second hour of "squawk box" starts right now. ♪ well i won't back down no i won't back down ♪ ♪ you can stand me up at the gates of hell but i won't back down ♪ >> good morning everybody and welcome back to "squawk box" on cnbc. i'm becky quick with andrew ross sorkin and joe kernan. we've...
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Sep 4, 2012
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we've got manufacturing contracting here in the united states. yesterday, we learned it's contracting in the china for the first time since november and in europe, it continues to contract. and yet, you think that the market is well supported here, why? >> i think it's going to be a range bound market. i think right now, we're in the tougher end of the range. there are two things that are supporting the market. one, there is an economic value to entities and so the lbo or acquisition value is providing support. to the extent companies return cash to shareholders, that offers some support. >> do you see many acquisitions in the market at the moment? >> no, and that's one of the things that's been surprising and disappointing at the same time. it's interesting. there are areas of the market where you've seen capital flow to economic opportunity. for example, buying single family homes to rent them out. which is an arbitrage that was made available by the decline housing prices you haven't seen a comparable level of activity on the corporate side, w
we've got manufacturing contracting here in the united states. yesterday, we learned it's contracting in the china for the first time since november and in europe, it continues to contract. and yet, you think that the market is well supported here, why? >> i think it's going to be a range bound market. i think right now, we're in the tougher end of the range. there are two things that are supporting the market. one, there is an economic value to entities and so the lbo or acquisition...
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Sep 24, 2012
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i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150 years of experience to help you get there. ♪ >>> "squawk box" keeping our eyes on the prize, its eight a "squawk" oil summ
i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the...
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Sep 25, 2012
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you can't get it from the united states government. they'll pay you nothing. people are going say, wait a minute, now i have to pay 36% and i have risk in the marketplace. these are a lot of big issues. >> i know you meant governor romney. >> let me apologize. >> do you think we go to the election and are in standstill mode until then? once we get the clarity of who's in the white house, what's your expectation? >> i do. i don't anticipate a lot. i know people are talking about that we'll see more in the early parts of november because of the different things with the defense department and where they're going to be at as far as cuts go. we'll get an indication what's going to happen. i think we'll have to wait until the election is over and done with and we'll get clarity for the future of the markets. >> i really like the fact you're looking at this whole dividend issue. we've been talking about the fiscal cliff a lot on this program. do you really think these guys are going to allow dif vidend taxes to go to 43%? >> they think hthis is a bunch f wealthy peo
you can't get it from the united states government. they'll pay you nothing. people are going say, wait a minute, now i have to pay 36% and i have risk in the marketplace. these are a lot of big issues. >> i know you meant governor romney. >> let me apologize. >> do you think we go to the election and are in standstill mode until then? once we get the clarity of who's in the white house, what's your expectation? >> i do. i don't anticipate a lot. i know people are...
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Sep 13, 2012
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for 30 some years at manyperint different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> let's get a sector check. a lot of indecision ahead of the fed this afternoon. here's one look how consumer staples is doing this morning. meanwhile just in time for fashion week. google glasses making its runway debut during the die van von furstenberg show. it's being released through google+. joining us here at post 9 today is spencer annie. he's the bureau chief. always good to have you. >> good to see you, carl. >> you got to sit down and test drive these things yourself on monday. >> kind of like winning the lottery a little bit. >> what was it like? >> it was really interesting. the iphone 5 came out yesterday and a lot of people criticized it for being boring. this is not boring. it's basically a wearable computer that is a pair of eye frames, right?
for 30 some years at manyperint different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> let's get a sector check. a lot of indecision ahead of the fed this afternoon. here's one look how consumer staples is doing this morning. meanwhile just in time for...
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Sep 26, 2012
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it is policies that will create greater job creation and greater manufacturing in the united states and those are the policies we believe that governor romney and ryan are advancing during this campaign and policies they will put in place when they're in the white house. >> there is a poll, 87% of likely voters say the economy will be an important factor in their decision when they vote. obviously not a surprise. when you have confidence up like it was yesterday, you get home prices that are improving. we got decent numbers today. the market today aside has obviously been strong for the quarter. you have gas prices coming down. are there policies, will we be hearing about positions that argue they could have done even better than all of those things doing right now? >> well, look, this recovery is the weakest recovery we have seen in modern history. you still have 23 million americans struggling for work. you have 47 million americans on food stamps. the reality is that the obama campaign can try to paint whatever picture they want to paint. the reality is that americans are not interes
it is policies that will create greater job creation and greater manufacturing in the united states and those are the policies we believe that governor romney and ryan are advancing during this campaign and policies they will put in place when they're in the white house. >> there is a poll, 87% of likely voters say the economy will be an important factor in their decision when they vote. obviously not a surprise. when you have confidence up like it was yesterday, you get home prices that...
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Sep 10, 2012
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states and other parts of the world rally off the back of this notion of china stimulus, are all those things built on false expectations? >> we need to look at those charts. and most of those charts have fallen very sharply in the last two months. so what we experience through our trading book on friday with short coverings, we didn't see long-only investors coming in and buying stocks this morning. what i do think is different and you've highlighted that asia has recovered -- talking about a recovery -- the local investors do seem to be more excited by this new story than we've seen for some period of time. particularly noting that cement stocks rallied quite hard today in shanghai. so that is interesting that the local investors are somewhat more enthused about this story than we've seen for months. >> okay. adrian, thank you so much for phoning in. we appreciate it. adrian mowat of jpmorgan. >>> it's interesting this morning that stocks are essentially hanging on to the sharp gains that they made last week. clearly hopes are high that the fed will announce further monetary easing t
states and other parts of the world rally off the back of this notion of china stimulus, are all those things built on false expectations? >> we need to look at those charts. and most of those charts have fallen very sharply in the last two months. so what we experience through our trading book on friday with short coverings, we didn't see long-only investors coming in and buying stocks this morning. what i do think is different and you've highlighted that asia has recovered -- talking...
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Sep 17, 2012
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we look at dodd-frank, we look at the regulatory framework in the united states. we look at the fed. one of the greatest threats to the u.s. and the capitalism really is academics and bureaucrats that really run our entire regulatory framework in the u.s. and they run the federal reserve. we need risk it takers. people that have actually taken risk to be in the regulatory framework. if you look at the crash of 2008, who is making all the decisions? it was hank paulson, someone from wall street. and we have a situation all these years later where if you look at the fdic, the futures trading commission, the regulatory infrastructure doesn't have approach risk takers. and that's a big threat. >> it sounds like you think the fed are taking risks. >> i've been behind the scenes taking to hedge fund managers. these are complete experimental drugs, they don't have an exit strategy. they want to make us feel good with academic contrived jargon, but this is a massive experiment. and what i'm worried about, think about in the united states we have a trillion dollars in pens
we look at dodd-frank, we look at the regulatory framework in the united states. we look at the fed. one of the greatest threats to the u.s. and the capitalism really is academics and bureaucrats that really run our entire regulatory framework in the u.s. and they run the federal reserve. we need risk it takers. people that have actually taken risk to be in the regulatory framework. if you look at the crash of 2008, who is making all the decisions? it was hank paulson, someone from wall street....
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Sep 28, 2012
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here in the united states, north america things are okay. nike branded sales were up 23% by revenue in north america. at the same time, under armor, luol lieu lemon, they compete very heavily here in the u.s. how concerned should we be about the 23% number and preserving that in future quarters? >> i think that's, you know, a little artificially high because they do have the first year of the nfl license. that is a new business for them so that is propping up the number a little bit on a year over year basis but overall even when you exclude that they have very strong double digit numbers well into the teens and i think nike is competing as well as under arm our or lulu in the women's category in the u.s. no question. >> yeah. in terms of china, michael, i wonder if you think there is hope there because future orders were down so significantly. what can nike do if anything or is it simply a macro story we have to sit back and wait for the china economy to do better? >> that is part of it. you can't let them off the hook on that. i think they
here in the united states, north america things are okay. nike branded sales were up 23% by revenue in north america. at the same time, under armor, luol lieu lemon, they compete very heavily here in the u.s. how concerned should we be about the 23% number and preserving that in future quarters? >> i think that's, you know, a little artificially high because they do have the first year of the nfl license. that is a new business for them so that is propping up the number a little bit on a...
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Sep 27, 2012
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this is very, very detrimental to the united states long term. >> it ultimately is going to do something, though -- [ bell ]. i kind of disagree. because i think if consumers know -- >> if they understand. can you understand your health plan? >> i can't understand my health plan today. i don't know what it covers and what it doesn't. >> it puts employees at the mercy of the insurance companies and they're really going to be defenseless. >> and you have 206 perfect information. why should everybody have perfect information when their employer can help everybody at once to get to that? >> i'll tell you one thing i'm not going to do, is go through a whole book on every potential plan that i might look at to see -- >> they might do it on your behalf. >> oh, sure. >> koording to a new irs inspector general report 70 federal agencies owe $14 million in taxes. so why does the government hate taxes, john? >> it's not just these federal agencies that owe taxes. we learned earlier in the year that over a billion dollars is owed by federal employees. there's a scofflaw problem in our very governmen
this is very, very detrimental to the united states long term. >> it ultimately is going to do something, though -- [ bell ]. i kind of disagree. because i think if consumers know -- >> if they understand. can you understand your health plan? >> i can't understand my health plan today. i don't know what it covers and what it doesn't. >> it puts employees at the mercy of the insurance companies and they're really going to be defenseless. >> and you have 206 perfect...
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could this latest move, this trend across the united states hurt the stock? collin, this must be significant because amazon has a big competitive advantage if it's able to sell unlike the bricks and mortars shops with no sales taxes in certain states. >> ten years ago, it was a bigger advantage for amazon for consumers to avoid sales taxes. today, not having distribution centers closer to consumers is the biggest disadvantage for amazon. we think they're turning lemons into lemonades. getting closer to consumers will play to amazon's advantage over the next few years. >> we lived a pretty ebs tensive survey of about 1100 people in the u.s., 20% of them was the avoid dance of sales taxes, the major reason they shop on amazon. you can impose state taxes. like they did in new york. we don't think you'll see a growth tax in california. >> advantages of having warehouses closer to consumers. one would be the roll out of same-day delivery, how big could that part of the business actually be? >> to mark's point, when you survey consumers convenience and selection an
could this latest move, this trend across the united states hurt the stock? collin, this must be significant because amazon has a big competitive advantage if it's able to sell unlike the bricks and mortars shops with no sales taxes in certain states. >> ten years ago, it was a bigger advantage for amazon for consumers to avoid sales taxes. today, not having distribution centers closer to consumers is the biggest disadvantage for amazon. we think they're turning lemons into lemonades....
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was one of the worst economic decisions in the history of the united states. on where we go from here. >>> creating job opportunities in a world of technology. >> just what i need. let's do that. >> former aol boss with a plan to pave the way for the next generation of america's workforce. >> and tracking the fed's next steps. find out what fed watchers and experts are saying in the latest cnbc fed survey. the second hour of "squawk box" begins right now. >>> good morning, everybody. welcome back to "squawk box" on cnbc. i'm becky quick, the futures are indicated higher today even after the gains we saw yesterday. right now the dow futures up by close to 30 points. and the nasdaq is up by about 11 points right now. let's get right to your morning headlines. european shares have hit 14-month highs this morning after a german court ruled that the country could proceed with ratification of a european bailout fund. the german parliament could veto any future increase, but a lot of people taking this as a winning right now. in the meantime, back here in the united
was one of the worst economic decisions in the history of the united states. on where we go from here. >>> creating job opportunities in a world of technology. >> just what i need. let's do that. >> former aol boss with a plan to pave the way for the next generation of america's workforce. >> and tracking the fed's next steps. find out what fed watchers and experts are saying in the latest cnbc fed survey. the second hour of "squawk box" begins right now....
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basically, the inefficient use of some of the stimulus money in the united states really misallocated resources. we could have done a better job in terms of how we spent the money. again, even the president made fun of the fact that a lot of projects simply weren't shovel-ready. i think how we spend the money is very, very important overall. also, finally, i would just comment there is a budget constraint with respect to fiscal spen pentagon. so, as we saw in om of the european economies, spending more money when it's perceived that over the long run it's going to be more and more difficult for you to meet that budget constraint in term of paying that money back doesn't do you a lot of good in terms of perhaps a weaker dollar, a higher inflation expectations, higher real interest rate over time. so i think, again, i think the professor has it right. there are limits to fiscal policy, especially given the large debt to gdp rashs that we have in the united states. >> john, thank you for getting up for us this morning. steve horowitz will stay with us and we'll talk about a alternatives.
basically, the inefficient use of some of the stimulus money in the united states really misallocated resources. we could have done a better job in terms of how we spent the money. again, even the president made fun of the fact that a lot of projects simply weren't shovel-ready. i think how we spend the money is very, very important overall. also, finally, i would just comment there is a budget constraint with respect to fiscal spen pentagon. so, as we saw in om of the european economies,...
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Sep 26, 2012
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the united states is not going to just stand by. they have to overcome the pretty much resistance from other countries like russia and china in the united nations security council. but when it comes to iran, united states making it clear that they will do what they must, is what obama said, to stop iran from obtaining nuclear weapons. the iranians are saying well, we're not really striving to get nuclear weapons. so there's really not much to do on that front. but again, what are we expecting from president mahmood ahmadinejad? we got a bit of a preview yesterday in some comments that were really provocative when it comes to israel, and we expect perhaps some of that to continue in his speech later today. but again, watch very carefully for that speech. might get further clues about where iran stands at the moment. also, of course, it will be worth watching and tuning in to the israeli leader's speech. we'll have to see where this goesmz it's been a lot of rhetoric that's going on. the oil markets we'll be watching very closely. >>
the united states is not going to just stand by. they have to overcome the pretty much resistance from other countries like russia and china in the united nations security council. but when it comes to iran, united states making it clear that they will do what they must, is what obama said, to stop iran from obtaining nuclear weapons. the iranians are saying well, we're not really striving to get nuclear weapons. so there's really not much to do on that front. but again, what are we expecting...
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Sep 18, 2012
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united states is great market. south america, we're positioned well in all of them but clearly we're going through a big cycle here. and i think the most important thing we do at ford is to continue to invest like we have in the united states in the toughest of times to invest so we'll be here when the economy comes back. >> ford ceo alan mull laully joining us live on "squawk on the street." >> with the fusion hybrid. >> first on cnbc during power lunch coming up at 1:00. back to you. >> thank you very much. >> way to roll, phil. as was said phil will sit down with ford motor company's alan mulally. >> did you see the sales are down 29% year on year. down by almost a third. that's astounding. everybody's crushed. gm is down. everyone is down. but the situation for august is really bad, really bad. >> it appears the be strong, pretty robust. >> i think they're down 8.5% for august. it is deteriorating. >> that is true. absolutely true. when we come back, david fash exclusive. five-star portfolio manager, steven wal
united states is great market. south america, we're positioned well in all of them but clearly we're going through a big cycle here. and i think the most important thing we do at ford is to continue to invest like we have in the united states in the toughest of times to invest so we'll be here when the economy comes back. >> ford ceo alan mull laully joining us live on "squawk on the street." >> with the fusion hybrid. >> first on cnbc during power lunch coming up at...
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where does that leave political classes, not only in the eurozone but also in the united states. the global issue has been a subject john has been involved, the ceo of eli lilly. nice to see you. let's see this issue of leadership. clerly the onus with central banks doing as much as they can in terms of turning around the global economy. the emphasis is very much on a political class in europe that is fighting its own corners, and in a clearly divided political class in the united states. can't we achieve this sort of leadership the world needs economically? >> we're in a tough situations that's been years in the making and i think it will be years to work our way out of it. there's an old saying as elected democracies we get the leaders we deserve. different views on our leaders reflect a certain divisiveness on leaders. some of the comment i made here yesterday of the position i would take, and i think we should be looking toward from the perspective of anyone who runs a company is leadership that takes a long-term view when temptations are otherwise to deal only with the short
where does that leave political classes, not only in the eurozone but also in the united states. the global issue has been a subject john has been involved, the ceo of eli lilly. nice to see you. let's see this issue of leadership. clerly the onus with central banks doing as much as they can in terms of turning around the global economy. the emphasis is very much on a political class in europe that is fighting its own corners, and in a clearly divided political class in the united states. can't...
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fundamentals here in the united states. and the continual demographics in trms of what we would see with people putting money into bond funds. all that has continued. all those fundamental reasons have happened. what i can now say, i guess we'll call it a bit of a mea culpa call, i'll withdraw this idea i think we can see the 1%. i think the low, in fact, was hit for this year, for 2012, during the period of the summer right after i visited with you when we did hit about a 1.21 yield on that 10-year. here's the reasons why. some of it you heard yesterday with jeffrey gundlach. you've now got not true price discovery. a manipulated bond market because of the fed. as a result of that and the fact they are now targeting a certain sub sector, you will continue to see people fearful. the main fear here is that the chinese will start to sell u.s. government bonds to deal with their own problems and as a result of that all the flows in the manipulated market we have can pretty much tell you we will not see that 1% print this year.
fundamentals here in the united states. and the continual demographics in trms of what we would see with people putting money into bond funds. all that has continued. all those fundamental reasons have happened. what i can now say, i guess we'll call it a bit of a mea culpa call, i'll withdraw this idea i think we can see the 1%. i think the low, in fact, was hit for this year, for 2012, during the period of the summer right after i visited with you when we did hit about a 1.21 yield on that...
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states. euro/sterling, down a little bit. after that manufacturing pmi number came much better than expected. so interestingly enough, employment stilg still picking up in manufacturing. although it's still in contractionary territory. if you like pmi, you'll like china for the last couple of days. >> i think, ross, asian bourses mostly finished higher despite down beat manufacturing numbers from china. analysts say those weak readings could prompt supported policies from the central bank. the gape, 0.6% gold liner search off future fed. developers rally following the comments on building more affordable housing. the hang seng followed suit, helped by congress congress property place and internet giants. turning negative in late trade to end at a four-week low. lost over 6% after it proposed to revise down its stake back in march. energy places and industrials sent the kospi higher by .4%. samsung electronics lost a round after apple targeted four more cents on products. the afx 200 eked out
states. euro/sterling, down a little bit. after that manufacturing pmi number came much better than expected. so interestingly enough, employment stilg still picking up in manufacturing. although it's still in contractionary territory. if you like pmi, you'll like china for the last couple of days. >> i think, ross, asian bourses mostly finished higher despite down beat manufacturing numbers from china. analysts say those weak readings could prompt supported policies from the central...
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Sep 5, 2012
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as far as what's on the agenda in the united states, second quarter productivity out at 8:30 eastern. forecasts calling for 1.9% growth. unit labor costs have seen rising by 1.4%. corporate side, discount retailer dollar general reports figures before the open. after the close we'll hear from the likes of h&r block, harry winston and menswear house. that's the agenda for you today. >>> meanwhile, a leaked report from troika suggests imposing a six-day work week on greece as a condition of bail outs. we want to know, is that fair or is the troika going too far? jeff tweets in to say, no, six-day work week is not fair. don't punish workers for government's mismanagement and stupid. join the conversation here on "worldwide exchange." get in touch by e-mail or tweet us @cnbcwex or individually. ross? >> do that and still to come, david cameron is under spotlight as he faces questions in parliament following yesterday's cabinet reshuffle. > >>> welcome back to the program. these are your headlines. fedex cutting forecasts. >>> u.s. services pmi shows a slump on the eve of a key ecb meeting
as far as what's on the agenda in the united states, second quarter productivity out at 8:30 eastern. forecasts calling for 1.9% growth. unit labor costs have seen rising by 1.4%. corporate side, discount retailer dollar general reports figures before the open. after the close we'll hear from the likes of h&r block, harry winston and menswear house. that's the agenda for you today. >>> meanwhile, a leaked report from troika suggests imposing a six-day work week on greece as a...
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we have lackluster growth in the united states. we have draghi coming out and downgrading the gdp outlook and out right recession as europe will likely be in 2013. how can this be? the answer from the bulls is where earnings may be lackluster but they'll still be positive. here is the estimates right now for earning. question down, q4 a big bump up. this isn't going to happen. this is 14 thst. the numbers will come down but still positive. overall for 2012, 4%, maybe 3%. not as much as in the past year. it is still growth, 2013, you know the numbers are the how. you know they will come down. it is 11%. that will probably end up at 5% next year. 5% growth, carl, is still 5%. it is not negative earnings growth. to argue for negative earnings growth, let me tell you what people are telling me. they keep saying you can't do this way. revenue growth is petering out, the margin expansions are tougher, china will have a hard landing, a soft patch in the u.s. economy, we'll hit the fiscal cliff. this is what people yell at me every day. he
we have lackluster growth in the united states. we have draghi coming out and downgrading the gdp outlook and out right recession as europe will likely be in 2013. how can this be? the answer from the bulls is where earnings may be lackluster but they'll still be positive. here is the estimates right now for earning. question down, q4 a big bump up. this isn't going to happen. this is 14 thst. the numbers will come down but still positive. overall for 2012, 4%, maybe 3%. not as much as in the...
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how are things both in the united states and europe. >> and china? >> let's talk about the u.s. in almost every business, there are pockets of real success. let's take, for example, the enormous burst in rental housing. the command for rental housing is incredible. so we're in the home supply business. we do cabinet doors, home depot, supply, we do vanities and things like that. we sell vanity kits as fast as you possibly make to landlocked and multifamily housing who put these things in. we charge $500, they increase the rent $100 a month, the pay back is in months, and the game is on. people are renovating rental places and motels and hotels because they're occupied. three years ago they were taking a room in a motel, tearing it apart, bringing the fixture over and fixing the other room that was leaking. now they're renovating those things. so the home rental idea is moving strongly. you take the marcellus fields, we can't get pipe up there fast enough. we can't get pre-fab buildings up there fast enough. i mean, i'm not talking marcellus, i'm talking north dakota in the basin
how are things both in the united states and europe. >> and china? >> let's talk about the u.s. in almost every business, there are pockets of real success. let's take, for example, the enormous burst in rental housing. the command for rental housing is incredible. so we're in the home supply business. we do cabinet doors, home depot, supply, we do vanities and things like that. we sell vanity kits as fast as you possibly make to landlocked and multifamily housing who put these...
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. >>> back in the united states, the new york attorney general is investigating whether private equity firms have abused tax strategy in order to cut hundreds of millions from their tax bills. eric schneiderman wants documents that reveal whether they converted certain fgt fees into investments which are taxed at a lower rate than ordinary xhk. economy. schneiderman is looking to see if he's trying to embarrass bain. andrew, right now, i'll send it over to you. >> fascinating story. hope we talk about that in a little bit. corporate headlines this morning. valiant pharmaceuticals is buying metacis for $24 a share. a 39% premium. the deal boosting valiant skin care offering and adds botox to it's portfolio. oracle is launching an appeal on five-year long court case against s.a.p. last month they agreed to pay oracle $306 million over copyright infringement allegations. great to be back. what do you think, a little right here in. >> i've never heard of disport? >> botox? >> you're not who i'm worried about. it's clear by saying you might need it, i know what you're actually saying. >> i,
. >>> back in the united states, the new york attorney general is investigating whether private equity firms have abused tax strategy in order to cut hundreds of millions from their tax bills. eric schneiderman wants documents that reveal whether they converted certain fgt fees into investments which are taxed at a lower rate than ordinary xhk. economy. schneiderman is looking to see if he's trying to embarrass bain. andrew, right now, i'll send it over to you. >> fascinating...
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Sep 21, 2012
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those viewers in the united states waking up, why are the apple workers in paris upset? >> for the last week, they've been extremely it is grunt he willed. all over the french media, they've been meeting with different management, complaining, in pact one of them was quoted as saying working at apple is like working in a coal mine. they've been complaining that they have to work longer hours than what they're paid for, that they don't get any commissions uneven though they're under constant pressure to sell. they're monitored by cameras in the stores and looking for things like a 13th month of pay as a bonus, higher pay and water fountains in the store. some of these things are standards for french workers, but they're complaining that apple has been extremely resistant to provide them these things. in fact they say they've been fighting for three years for the 13th month of pay. so at the end of yesterday, there was a sort of last resort meeting at which it was decided that these issues would be revisited before the end of the year, that the company would consider them
those viewers in the united states waking up, why are the apple workers in paris upset? >> for the last week, they've been extremely it is grunt he willed. all over the french media, they've been meeting with different management, complaining, in pact one of them was quoted as saying working at apple is like working in a coal mine. they've been complaining that they have to work longer hours than what they're paid for, that they don't get any commissions uneven though they're under...
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united states continued a four-year slide to the seventh spot. separately, a judge ruling amr can abandon its pilot's union contract. saying the bankrupt parent of american airlines corrected certain issues that caused him to reject the same request in the past. amr is trying to save more than $1 billion a year in labor costs. it can unilaterally impose work terms on its pilot, all is happening as talks between amr and u.s. air continue. >>> in the meantime, a very complicated story. we've been trying to follow the twists and turns. the fbi now says there is no evidence to support claims that hacking group anonymous infiltrated an fbi agent's laptop and lifted data for more than 12 million apple products. however the front page of "the financial times" lays it out and says hackers embarrass apple with this data release. there were over a million different devices, numbers were published online. this is a story that has many odd twists. the hackers said they would not give any interviews about this breach until a gawker posed with a ballet tutu wi
united states continued a four-year slide to the seventh spot. separately, a judge ruling amr can abandon its pilot's union contract. saying the bankrupt parent of american airlines corrected certain issues that caused him to reject the same request in the past. amr is trying to save more than $1 billion a year in labor costs. it can unilaterally impose work terms on its pilot, all is happening as talks between amr and u.s. air continue. >>> in the meantime, a very complicated story....